COMPANY REGISTRATION NUMBER 07124248
THE OPTIMA LOGISTICS FOUNDATION LIMITED FINANCIAL STATEMENTS
& TRUSTEES ANNUAL REPORT 31 JANUARY 2022
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
FINANCIAL STATEMENTS YEAR ENDED 31 JANUARY 2022
CONTENTS
CONTENTS PAGE Trustees Annual Report 4-9 Balance sheet 11 Surplus Statements 12 General Fund Statement 13 Notes to the accounts 14-16
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Company number : 07124248 Registered charity number : 1138277 Directors : Mr Simon Powell-Smith Mr Kevin Williams Mr John Main Trustees : Mr Kevin Williams Mr John Main Secretary : Mr Simon Powell-Smith Registered Office : DC1 Pochin Way Middlewich CW10 0TE Bankers : Barclays Bank
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Trustees Annual Report
For the period ended 31 JANUARY 2022
The Trustees present their report together with the financial statements of the charity for the period ending 31 January 2022.
Trustees
Mr Kevin Williams
Bankers Barclays
Headlines
Current partnerships are solidly in place with several supermarkets; the foundation is continuing to build on the donor’s faith, that donations of food and non-food products were now being able to donated to the foundation with assured anonymity for the donors.
This faith has led to an increase of donations to meet the foundations goals for 2021/22.
As in prior years several clients of an associated company, Optima Logistics Limited, have continued to donate white goods, water purifiers, clothing, food and shoes and these have been used in the UK and Sub Sahara Africa to help the poor and needy in these countries.
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The Foundation is now fully supporting local foodbank and charities in the local Cheshire and Daventry area and within a 50 mile radius, it is important to the Trustees to support this community.
The process is now fully streamlined to allow an expedient picking and packing method to allow the short life products to be delivered to foodbanks within 48 hours of landing at the warehouse.
Fund Raising has gone well in year through summer and autumn activities this has totalled £162k, this in itself is a nett cash decrease on last year. However the quantity and yield of donations of food and products has continued to increase.
The Foundation continues to share the Middlewich and Daventry office space in 2021/22 with an associated company, Optima Logistics Limited (OLL), this has allowed the Foundation to use the admin staff at OLL for the purposes of assisting with the admin of the charity as well as managing the new warehouse facility. As a “payback” for this, the Foundation has allowed OLL to use the parking facilities for overnight parking of their tractor and trailer units, there is also a 12k square foot allocated warehouse facility to allow the loading and offloading of trailer units.
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Goals for 2021/22
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Continued opportunity to support local communities
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Maintain partnerships with national companies to source wheelchairs and medical equipment.
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Set up grant’s to help local people who are experiencing ill health or disability.
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Continually improve routes for taking surplus food parcels into local foodbanks
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Continue to support local charities through donations of products and food and to potentially look at expanding this to other charities in the Cheshire and Northamptonshire area
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Onward development of the National and International Disaster Strategy
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Continue to offer a crisis voluntary team to work on international rescue projects
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The Need
The Optima Logistics Foundation Limited was set-up by people living or working in Manchester. They were struck by 2 core issues:
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1) The significant need of the people in the local area who were in need of wheelchairs and commodes either on release from hospital or who were home bound through ill health or disability. The average waiting list was proven to be 9-10 weeks.
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2) Despite a strong network of palliative care in the area, there was still a need for funds to assist the very ill or terminally ill to ensure that they receive the best comfort.
The Optima Logistics Foundation was therefore set-up to enable and mobilise the charity to meet some of the need of disabled and the long-term ill in Manchester and across the North-West initially. This has expanded to the East Midlands.
Since early 2015 the Foundation has expanded its remit to a sourcing mechanism to take surplus food parcels to local foodbanks, these partnerships are now increasing and the Foundation is now using approx. 77% of the capacity of the warehouse for this alone.
As part of the growing awareness of the Foundation, the Foundation has been approached by several disaster agencies to assist in bringing products and services into areas that have been declared states of emergency.
The Aims & Activities of The Optima Logistics Foundation
The principal activity of the Charity is to relieve poverty or financial hardship.
Continued progress is being made on understanding the local, national and international requirements.
Structure, Governance and Management
The Optima Logistics Foundation is registered as a limited company and as a charity limited by guarantee. The charity was registered on 6th October 2010.
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Governing Document
The charity is governed by the Memorandum and Articles of Association. Taken together these documents set out the formal structure and organisation of the Charity, how it generally manages its affairs and how it will comply with the requirements of the Companies Act 1985 as a company limited by guarantee.
The Trustees
The Trustees have met on 4 occasions in this last year. The Trustee’s bring a range of relevant skills to effectively govern and manage the organisation. The Trustee’s do not take any drawings or charge any expenses for their services.
Policies
The following policy documents have been written and approved by the Trustee’s during the course of the year:
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Equal Opportunities.
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Safeguarding
Kevin Williams
12[th] June 2022
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
BALANCE SHEET AS AT 31 January 2022
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Note 2022 2021
£ £ £ £
Current Assets
Bank Accounts 5,748 5,333
Current Liabilities
Amounts falling due within one year 0 0
Net Current Assets 5,748 5,333
Total Assets less Current Liabilities 5,748 5,333
Net Assets 5,748 5,333
Capital funds
Unrestricted Funds 5,333 5,333
Total Funds 5,333 5,333
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The trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of s.477(1) of the Companies Act 2006. The Trustees acknowledge their responsibility for ensuring that the charity keeps accounting records which comply with s.386 and s.387 of the Companies Act 2006 and for preparing accounts which give a fair and true state of the charity as at the end of the financial year and of its profit and loss for the year ended in accordance with s.396 and which comply with the other requirements of the Act relating to the accounts so far as applicable to the company.
The financial statements were approved by the trustees on 12/06/2022 and signed on their behalf by :
Kevin Williams - Trustee
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
FINANCIAL STATEMENTS AS AT 31 January 2022
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Unrestricted Total Total Funds
Note Funds 2021 Funds 2021 2021
Incoming Resources
Incoming Resources from generated
funds £162,053 £211,603 £211,603
Other Incoming resources £ - £ - £ -
Total Incoming Rsources £162,503 £211,603 £211,603
Resources Expended
Charitable Activities
Governance Costs £162,088 £213,678 £213,678
Total resources expended £162,088 £213,678 £213,678
Net Movement in Funds £ 415 (£ 2,075) (£2,075)
Total Funds Brought Forward £5,222 £7,408
Total Funds Carried Forward £5,748 £5,333 £7,408
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
FINANCIAL STATEMENTS AS AT 31 January 2022
General Fund 2022 £ Balance B/Fwd 5,333 Surplus/(Deficit) for the year 415 Balance C.Fwd 5,718
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2022
1. Accounting policies
The financial statements are prepared under the historical cost convention (as modified by the revaluation of certain assets), in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Companies Act 2006. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued in March 2005.
Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Depreciation of fixed assets
Costs of minor additions to fixed assets, defined as those costing less than £1,000 each, are expensed in the year in which they were incurred.
Fund accounting
General accumulated funds are unrestricted funds available to the charity for its general purposes and includes funds designated by the charity for a particular purpose; the use of such funds remains at the discretion of the charity's officers and trustees.
Foreign exchange
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Legal status
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £5.
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2. Creditors
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Amounts falling due within one year:
2022
£
General Creditors -
Accruals and deferred income -
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2022
3. Fund management and going concern
The General Fund is in surplus. Donations are anticipated to be received to cover the costs already incurred and any future costs.
4. Incoming resources
Voluntary Income Donations and grants £162,503
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THE OPTIMA LOGISTICS FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 January 2022
5. Other Support Costs
2022
Travel and subsistence - Sundries - Printing, postage and stationery - _____
- Charitable activities
Education support - Charitable Support - Other support costs - ______ -
7. Governance Costs
Accountancy 2,500 Bank Charges - Legal and Professional - Other Support Costs 5 159,588
______ 162,088
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